Blue Sky Asset Management LLC Purchases Shares of 49,860 Discovery Communications, Inc. (DISCA)

Blue Sky Asset Management LLC purchased a new stake in shares of Discovery Communications, Inc. (NASDAQ:DISCA) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 49,860 shares of the company’s stock, valued at approximately $1,288,000. Discovery Communications comprises approximately 0.7% of Blue Sky Asset Management LLC’s portfolio, making the stock its 28th largest position.

Several other institutional investors also recently modified their holdings of DISCA. Clearbridge Investments LLC increased its position in shares of Discovery Communications by 2.3% in the first quarter. Clearbridge Investments LLC now owns 17,843,671 shares of the company’s stock valued at $519,072,000 after buying an additional 399,171 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in shares of Discovery Communications by 2.4% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 17,688,591 shares of the company’s stock valued at $514,561,000 after buying an additional 406,646 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Discovery Communications by 5.4% in the first quarter. Vanguard Group Inc. now owns 15,803,301 shares of the company’s stock valued at $459,718,000 after buying an additional 803,848 shares during the last quarter. Bank of New York Mellon Corp increased its position in shares of Discovery Communications by 20.3% in the first quarter. Bank of New York Mellon Corp now owns 10,967,133 shares of the company’s stock valued at $319,034,000 after buying an additional 1,848,329 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Discovery Communications by 2,394.5% in the first quarter. BlackRock Inc. now owns 9,346,002 shares of the company’s stock valued at $271,875,000 after buying an additional 8,971,338 shares during the last quarter. Hedge funds and other institutional investors own 44.22% of the company’s stock.

Discovery Communications, Inc. (DISCA) traded up 1.12% on Friday, hitting $22.49. The stock had a trading volume of 4,179,155 shares. The company’s 50 day moving average is $25.12 and its 200-day moving average is $26.95. The stock has a market cap of $12.82 billion, a P/E ratio of 11.93 and a beta of 1.59. Discovery Communications, Inc. has a 12 month low of $22.12 and a 12 month high of $30.25.

Discovery Communications (NASDAQ:DISCA) last issued its quarterly earnings results on Monday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by $0.04. The business had revenue of $1.75 billion for the quarter, compared to analysts’ expectations of $1.76 billion. Discovery Communications had a return on equity of 22.74% and a net margin of 16.88%. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.71 EPS. Analysts forecast that Discovery Communications, Inc. will post $2.23 EPS for the current year.

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Several equities research analysts recently commented on the company. BidaskClub raised Discovery Communications from a “sell” rating to a “hold” rating in a research report on Wednesday, June 14th. Cowen and Company reaffirmed a “hold” rating and set a $29.00 price objective on shares of Discovery Communications in a research report on Tuesday, July 11th. Moffett Nathanson reaffirmed a “sell” rating on shares of Discovery Communications in a research report on Friday, June 9th. Piper Jaffray Companies assumed coverage on Discovery Communications in a research report on Friday, August 11th. They set a “neutral” rating and a $27.00 price objective on the stock. Finally, Royal Bank Of Canada reaffirmed a “buy” rating and set a $32.00 price objective on shares of Discovery Communications in a research report on Friday, July 14th. Five analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $27.27.

In related news, insider Bruce Campbell sold 9,283 shares of the stock in a transaction that occurred on Thursday, June 15th. The stock was sold at an average price of $26.43, for a total value of $245,349.69. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Gunnar Wiedenfels purchased 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was bought at an average cost of $21.70 per share, with a total value of $325,500.00. Following the acquisition, the chief financial officer now owns 35,000 shares of the company’s stock, valued at approximately $759,500. The disclosure for this purchase can be found here. Insiders have acquired 45,000 shares of company stock worth $1,016,200 in the last quarter. 5.78% of the stock is currently owned by company insiders.

About Discovery Communications

Discovery Communications, Inc (Discovery) is a global media company. The Company provides content across multiple distribution platforms, including pay-television (pay-TV), free-to-air (FTA) and broadcast television, Websites, digital distribution arrangements and content licensing agreements. Its segments include U.S.

Institutional Ownership by Quarter for Discovery Communications (NASDAQ:DISCA)

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